Ferroplan is the leading Finnish manufacturer of conveyor solutions designed for handling piece goods and bulk cargo, for a wide range of industries and materials including environmental products, metal, logistics and storage, packing and wood. The company prides itself on innovation in design and production of conveyor systems, as well as efficient, reliable and safe products. With 60 employees in Finland and Latvia, the company had revenues of 7 million Euros in 2011 and serves its global customers in Europe, South America, South East Asia and China in different industrial sectors.
The company opened its component manufacturing unit in Jelgava in 2005, specializing in production of special conveyer components and conveyers. In preparation for the new manufacturing site, Ferroplan evaluated expansion opportunities in the Baltic States and chose Latvia as investment base due to Latvia’s proximity to Finland, its central location, the availability of skilled work force and long-term cost advantage. Most recently (late 2011), the unit in Latvia initiated a large development program, investing in modern manufacturing machinery to improve the factory’s possibilities for more advanced products.
“We are very satisfied with the investment incentives we received from the Latvian state and European Union. Also, our relationship with LIAA has been professional, and together we have found ways to solve issues,” says Mr. Pentti Patosalmi, managing director of Ferroplan. “Together with our investment here, our aim is to grow in Latvia and have 15-20 employees there in a few years’ time.”